Wyndham Hotels & Resorts — Apr 30, 2025 release

2025 Outlook Fee-related and other revenues $ 1,445 – 1,485 Adjusted EBITDA 730 – 745 Depreciation and amortization expense (a) 37 – 39 Development advance notes amortization expense 32 – 34 Stock-based compensation expense 42 – 44 Interest expense, net 136 – 138 Adjusted income before income taxes 477 – 496 Income tax expense (b) 119 – 125 Adjusted net income $ 358 – 372 Adjusted diluted EPS $ 4.57 – 4.74 Diluted shares (c) 78.4 Capital expenditures $40 – 45 Development advance notes Approx. $110 Free cash flow conversion rate ~57% Year-over-Year Growth Global RevPAR (d) (2%) – 1% Number of rooms 3.6% – 4.6% (a)     Excludes amortization of acquisition-related intangible assets of approximately $27 million. (b)     Outlook assumes an effective tax rate of approximately 25%. (c)     Excludes the impact of any share repurchases after March 31, 2025. (d)     Represents constant currency basis; on a reported basis, which includes foreign currency impacts, would be (3%) - 0%. If a more significant pullback in demand were to materialize beyond the Company's current assumptions, actual results could fall below this range. To assist with modeling, each 1% change in RevPAR equates to an approximate $10 million impact to fee-related and other revenues and $4 million to adjusted EBITDA. In determining adjusted EBITDA, interest expense, net, adjusted income before income taxes, adjusted net income, adjusted diluted EPS and free cash flow conversion r